4//SEC Filing
Thornton Karen D. 4
Accession 0001104659-20-128637
CIK 0001529463other
Filed
Nov 22, 7:00 PM ET
Accepted
Nov 23, 9:27 PM ET
Size
24.8 KB
Accession
0001104659-20-128637
Insider Transaction Report
Form 4
Thornton Karen D.
Chief Administrative Officer
Transactions
- Other
Common Stock
2020-11-19−6,912→ 0 total - Award
Warrant (right to buy)
2020-11-19+2,154→ 2,154 totalExercise: $33.04Exp: 2023-11-19→ Class A Common Stock (2,154 underlying) - Award
Warrant (right to buy)
2020-11-19+5,387→ 5,387 totalExercise: $37.14Exp: 2023-11-19→ Class A Common Stock (5,387 underlying) - Award
Performance Stock Units
2020-11-20+33,758→ 33,758 total→ Class A Common Stock (33,758 underlying) - Other
Restricted Stock Units
2020-11-19−2,000→ 0 totalExercise: $0.00→ Common Stock (2,000 underlying) - Award
Class A Common Stock
2020-11-19+1,816→ 1,816 total - Other
Restricted Stock Units
2020-11-19−2,000→ 0 totalExercise: $0.00→ Common Stock (2,000 underlying) - Award
Restricted Stock Units
2020-11-20+67,515→ 67,515 total→ Class A Common Stock (67,515 underlying) - Award
Option Rights
2020-11-20+33,758→ 33,758 totalExercise: $14.11Exp: 2030-11-20→ Class A Common Stock (33,758 underlying)
Footnotes (9)
- [F1]On September 22, 2020, FTS International, Inc. (the "Company") and certain of its subsidiaries filed petitions for voluntary relief under chapter 11 of title 11 of the United States Code in the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the "Bankruptcy Court"). On September 22, 2020, the Company filed the Joint Prepackaged Chapter 11 Plan of Reorganization of FTS International, Inc. and its Debtor Affiliates (as amended, modified or supplemented from time to time, the "Plan"). On November 19, 2020 (the "Effective Date"), the Plan became effective in accordance with its terms, and the Company emerged from Chapter 11.
- [F2]On the Effective Date, all outstanding shares of the Company's common stock and equity awards were canceled and extinguished in accordance with the Plan approved by the Bankruptcy Court.
- [F3]On the Effective Date, new shares of the Company's Class A Common Stock were issued to the Reporting Person pursuant to the Plan in exchange for the Company's old common stock and equity awards. The receipt of the Class A Common Stock was involuntary, without additional consideration and in accordance with the Plan.
- [F4]On September 26, 2019, the reporting person was granted 3,000 restricted stock units which vested one-third on September 11, 2020 and were settled in cash and would have vested one-third on September 26, 2021 and one-third on September 26, 2022.
- [F5]On September 26, 2019, the reporting Person was granted 2,000 performance-based restricted stock units, which would have vested on July 1, 2022, depending on the achievement of specified performance goals.
- [F6]On the Effective Date, the Reporting Person received Warrants to purchase shares of Class A Common Stock. The Warrants are exercisable for one share of Class A Common Stock from the date of issuance until November 19, 2023. The receipt of the Warrants was involuntary, without additional consideration and in accordance with the Plan approved by the Bankruptcy Court.
- [F7]Each Restricted Stock Unit converts into Class A Common Stock on a one-for-one basis. On November 20, 2020, the reporting person was granted 67,515 restricted stock units which will vest one-fourth on November 20, 2021, one-fourth on November 20, 2022, one-fourth on November 20, 2023 and one-fourth on November 20, 2024.
- [F8]Each performance stock unit represents a contingent right to receive one share of Class A Common Stock. On November 20, 2020, the Reporting Person was granted 33,758 performance stock units, which will vest one-fourth on November 20, 2021, one-fourth on November 20, 2022, one-fourth on November 20, 2023 and one-fourth on November 20, 2024, subject to the Company obtaining an equity market capitalization performance metric. If the performance metric is not met by the seventh anniversary of the date of grant, the performance stock units will be forfeited.
- [F9]On November 20, 2020, the reporting person was granted 33,758 option rights, which will vest one-fourth on November 20, 2021, one-fourth on November 20, 2022, one-fourth on November 20, 2023 and one-fourth on November 20, 2024.
Documents
Issuer
FTS International, Inc.
CIK 0001529463
Entity typeother
Related Parties
1- filerCIK 0001703036
Filing Metadata
- Form type
- 4
- Filed
- Nov 22, 7:00 PM ET
- Accepted
- Nov 23, 9:27 PM ET
- Size
- 24.8 KB